Turtle Ridge - 42 Gingerwood

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1003008gl_IHB

New member
Hello,

I was wondering if anyone has any feedback for the property on 42 Gingerwood in Turtle Ridge. I talked to the agent today and he said it just fell out of escrow because the buyer did not want to wait any longer. It was previous in escrow in the 800ks. Now, they have requested a short sale for this property and is listed for $775,000. What is your take for this price? From my research with the loan and the short sale market, the loan is somewhere around $720,000. It seems like the bank will still go for it if an offer comes in at around $650k-$700k ($50,000 loss is nothing now for the bank, right?). However, the agent is telling me the bank will probably not sell it if it is not close to $750k since they know it was in escrow for over $800k and was appraised. I am also trying to figuer out the location of this property to see if it is in the better part of the TR, according to ACPME post earlier in regards to 23 Tall Hedge. Any suggestion or feedback is appreciated. Thanks in advance!
 
in the future, you should probably post the redfin link so that everyone who is trying to help you doesn't have to go looking for it.



And to be honest, when I saw that you said they were asking for 775k. I was expecting at least a 3 or 4 bedroom SFR with at least 2,000 square ft. Not a 1700 sq. ft condo. But I actually do not know that side of Irvine at all, so maybe that is the norm there.



But there is usually only reason why something is on redfin for 125 days.



Anyone happen to have the original price on this when it was built in 2004?



http://www.redfin.com/CA/Irvine/42-Gingerwood-92603/home/5944453
 
geegee, that is in the small, very dense neighborhood of 3 story condos and townhomes at the base of the hill (by the sports park next to mariners church). it's neither on the hill nor gated. in other words, it's turtle ridge without the ridge. most people mistake it for an IAC community.



the premium townhomes and condos in TR are in the gated neighborhood just before the summit gates. most of those are the calpac detached condos with bigger lots and views. many would argue the premium for views of the 73 and a sliver of the ocean isn't worth the price.





i found this old TR ad from circa 2003. that development (1 and 2 on the map) was priced in the $300-400ks in 2003.



<img src="http://216.104.179.146/images/interior_map.jpg" alt="" />



$775k for one of the bottom-of-the-hill condos is extremely WTF. that's a short sale??? if your agent is telling you this is a sweet deal, fire your agent now! if the bank isn't willing to budge, let them have it and buy this place or another similar one when it drops another 20%.





edit: i love it when realtors describe a place in the burbs as "just like being in NYC or SF!" they might as well admit, "great views of your neighbors wall and/or crapper."
 
Realtor are like used car salesman with writing skills.



[quote author="acpme" date=1210900587]geegee, that is in the small, very dense neighborhood of 3 story condos and townhomes at the base of the hill (by the sports park next to mariners church). it's neither on the hill nor gated. in other words, it's turtle ridge without the ridge. most people mistake it for an IAC community.



the premium townhomes and condos in TR are in the gated neighborhood just before the summit gates. most of those are the calpac detached condos with bigger lots and views. many would argue the premium for views of the 73 and a sliver of the ocean isn't worth the price.



$775k for one of the bottom-of-the-hill condos is extremely WTF. that's a short sale???



i found this old TR ad from circa 2003. that development (1 and 2 on the map) was priced in the 300-400ks in 2003.

<img src="http://216.104.179.146/images/interior_map.jpg" alt="" />



edit: i love it when realtors describe a place in the burbs as "just like being in NYC or SF!" they might as well admit, "great views of your neighbors wall and/or crapper."</blockquote>
 
[quote author="bkshopr" date=1210903910]Realtor are like used car salesman with writing skills.</blockquote>


That's so untrue. I know plenty of UCS's that can write. :P
 
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